Wells Fargo analyst Michael Turrin maintained Guidewire Software Inc (NYSE: GWRE) with an Underweight and lowered the cost focus on from $60 to $55. Guidewire’s seasonally light Q1 benefits have been generally in-line and modestly higher than Turrin’s estimates with $5 million improved-than-predicted ARR, $3 million greater-than-envisioned earnings, and running profits of ~$7 million higher than the analyst’s estimate. Nevertheless, the FY23 revised guide was somewhat unchanged. Administration prompt the coverage business continues to be rather stable compared to other far more macro-delicate verticals, indicating consumer selection-building and gross sales cycles have not meaningfully modified. The analyst thinks the fundamental transition will continue to weigh on this model until finally the cloud business enterprise can…